MS HB1318

State Auditor is authorized to conduct risk assessments and performance/compliance audits of state-funded economic development programs under Title 57, Mississippi Code, including projects deemed high-risk for potential wrongdoing or noncompliance.

The Auditor may bill the Mississippi Development Authority up to $100,000 per fiscal year for reasonable and necessary audit expenses related to economic development program oversight.

Specific authorization is added for State Auditor audits of projects under the Mississippi Business Investment Act, Mississippi Advantage Jobs Act, Mississippi Motion Picture Incentive Act rebates, Mississippi Rural Impact Fund, Existing Industry Productivity Loan Program, Job Protection Act loans, and Emerging Crops Fund loans.

The Auditor is granted authority to gather and review data from the Mississippi Development Authority, Department of Revenue, recipient businesses, and other relevant public, private, or nonprofit entities during audits.

Section 57-75-15 (Major Economic Impact Act) is brought forward without amendment, maintaining existing provisions for State Bond Commission powers and reimbursement of Department of Audit costs from bond proceeds for major economic development projects.